Tuesday December 28, 2021 / 08:05 AM / by SEC/ Header Image Credit: medium
This circular is made pursuant to Section
13(u) of the Investments and Securities Act (ISA), 2007 and Schedule 1, Part D
of the SEC Rules (Registration Fees, Minimum Capital Requirements, Securities
and others) which empower the Securities and Exchange Commission (SEC) to levy,
among others, fees on transactions relating to investments and securities
business in Nigeria.
Capital Market Operators (CMOs) and
stakeholders generally are hereby notified that:
regulatory fee structure on secondary market transactions on Bonds will
take effect from January 1, 2022.
market transactions on Bonds shall include bond transactions executed on a
Securities Exchange (Exchange), reported by voice or by any other means to
an Exchange as having being transacted thereon or of which the information
of the transaction details are featured on the Exchange's platform for
purposes including but not limited to onward transmission to a Depository
for settlement, price discovery and corporate disclosure.
this fee structure, the SEC will charge 0.025% of the total value of all
secondary market transactions on Bonds, while the Securities Exchange on
which the transaction occurs will charge an amount not exceeding 0.025% of
the total value of secondary market transactions on Bonds.
transactions by Dealing Members will attract a single regulatory fee of
0.0001% of the total value of the secondary market transactions on Bonds,
and are exempt from the 0.025% fee charge earlier stated.
This circular supersedes previous directives
given by the Commission on this subject.
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Income Securities Market Segment and Revises Its Trading Fee
- NSE to Re-Introduce Trading Fees for Securities Traded on the Fixed
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Proposes Rules on Outsourcing of Functions and Shared Services, Fintech
- We are
Committed to Capital Market Growth - Lawmaker
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Automation of Processes Key to Efficiency
- SEC Working
to Attract More Investors - Yuguda
Notifies of the Effective Date of Rules on Release Calendar for Regulatory
- SEC to Continue
Implementation of Capital Market Master Plan
Upgrades X-Issuer to Further Enhance Market Integrity
- SEC Proposes New Rules on CIS and Sundry
Amendments For Exposure